The Four Tokens: A Short Story.
Should You? However, the meteoric rise in Dogecoin prices coupled with the following selloff has many worried that the crypto is unsustainable.
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In fact, many are starting to wonder: Can I short Dogecoin? The rapid gains prompted the Dogecoin community to press for a new all-time high.
On April 20, also known as DogeDay, bulls were hoping to push the token past 50 cents. The holiday would wind up receiving the backing Tokwns: multiple Twitter-savvy brandsas well as a listing on Webull. But, alas, the token would not reach new heights. DOGE is currently trading hands for just over 31 cents.
The rapid losses after the quick gains have lead many to Fokr the token is overvalued. Dogebear, which is available only on the FTX exchange and not to U. While shorting Dogecoin through these leveraged tokens is an option, it is a practice as volatile as the meme coin itself.
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So, in brief, there are mechanisms that investors can utilize to short DOGE ahead of a potential downturn. However, the risk is significantly higher than going long in the currency.
On the date of publication, Brenden Rearick did not have either directly or indirectly any positions in the securities mentioned in this article.]
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